Which of the following best fits the definition of a small business?
A. A manufacturer with 75 investors
B. A hardware store franchise with 20 employees
C. A fast food franchise with locations in three states
D. A campground with gross revenues of $4 million per year.
Answer: B
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Under the allowance method, the write-off of an account as uncollectible affects the balance sheet and the income statement
Indicate whether the statement is true or false
In a statement of cash flows, payments to acquire long-term bonds or other debt instruments with maturities greater than one year of other entities should be classified as cash outflows for
a. operating activities. b. financing activities. c. investing activities. d. lending activities. e. exchange transactions.
Use the following information about the current year's operations of a company to calculate cash provided by operations. Net income$200,000 Increase in Accounts Payable 5,000 Increase in Accounts Receivable 7,000 Decrease in Merchandise Inventory 10,000 Increase in Salaries Payable 6,000 Depreciation Expense 10,000 Loss on Sale of Equipment 6,000
A. $230,000. B. $232,000. C. $218,000. D. $198,000. E. $186,000.
Prior to hiring a consultant to assist with a departmental reorganization, the department manager was required to get the project and its budget approved by two other departments: accounting and human resources. This type of requirement facilitates ________ relationships in the organization.
A. liaison B. technical C. advisory D. service E. stabilization